We had a good end to last week and we need to see if this will follow through. I sort of thought that the best case scenario was continued selling Friday, Monday and into Tuesday so we could get a reversal Tuesday morning but we got a decent little bounce Friday. That reset the chart […]
February 19th Biotech Update
The sector really seems unable to bounce which seems to open up a move to $150. That being said I really think we are oversold in the near term and so it would really be a signal of disinterest in the sector if we continue to $150. In some ways, it sets up a pretty […]
February 18th Biotech Update
Not a ton of news so a short note today. The sector tried to bounce yesterday and did a decent job but today there is no clear follow through. We are certainly at a level where there should be some support but it does not seem like very many people are exciting about biotech at […]
February 17th Biotech Update
There is not a ton to talk about as we are a little slow on the news front but we are setting up for continued downside in the market. We have the trifecta of limited M&A, continued capital raising at these levels, and bad news as being the most dominate news at this point. I […]
February 12th Biotech Update
The sector certainly seems in pullpack mode. There is nothing to think that the broader trend higher is broken but obviously that is something we want to keep an eye on. There will be a broader and more significant move lower but global equities saw the largest inflow of funds ever last week. There is […]
February 11th Biotech Update
I guess it is escalator up and elevator down sort of market. It was a little strange to see the drop midday on what I could not see as any news. Obviously most see the market as extended and overvalued and do not want to be the last one holding when the correction occurs. I […]
February 10th Biotech Update
Right now the market seems to be the epitome of a market at highs tends to make marginal new highs. The sector has been doing really well and in some ways was leading the moves higher. There was a little pause yesterday which is normal but at this point I still think the trend is […]
February 5th Biotech Update
The market seems like the prototypical market at highs tends to make marginal new highs. If that is the case, then the assumption would be a continued slow grind higher until the elevator down correction. In some ways, it also means that we are unlikely to get those price dislocations that make for the really […]
February 4th Biotech Update
The market seems to have calmed down and now we are entering the grind higher phase (so it seems). I would not argue with you if you were to tell me that the market is overvalued and we are in the late stages of the bull market. I would note, however, that these late stages […]
February 3rd Biotech Update
It seems like the reddit traders and the GME short squeeze neither broke the market or revolutionized it. They were unable to keep the price high and avoid the crash (I suspect the Robinhood restriction only hastened the crash) and the were unable to replicate it in their next target of SLV. So odds are […]
February 1st Biotech Update
It is an interesting start to the week and one that will also have the start of earnings season for biotechs. The GME saga continues with both a push to keep GME high but also a push to move into SLV. I am more interested in the SLV plays in that it provides a better […]
January 29th Biotech Update
Yesterday was interesting and today it seems to have settled down a little. As I noted all week this was going to cause some volatility in the market and it has. I am still not sure if the supposed rise of reddit finance (so to speak) changes the market in any way. It could very […]
January 28th Biotech Update
I was right about being careful in the market given the potential quick moves and dislocations. I think those warnings are the same today. There seems to be a lot of issues with large funds and then you have masses of retail investors piling into stocks trying to squeeze them and continue the party. It […]
January 27th Biotech Update
The market is a little odd right now. We are near or at highs and markets at these levels tend to continue higher. Ultimately they will correct and while the moves higher tend to look like grinds, the corrections are fast. What makes the market odd to interpret right now is that we are getting […]
January 25th Biotech Update
The week starts as last week ending which is quiet. We are starting to get earnings this week which will pick up the news flow but it is not really into next week that the biotech earnings starting hitting in earnest. This week we generally are getting some large pharma which will help us get […]
January 22nd Biotech Update
Not much happening as seems to be the theme of the week. Perhaps I had some wishful thinking that earnings will kick off at the end of January but it does seem like the first week of February will be the week where it kicks into high gear. As such I would expect another slow […]
January 21st Biotech Update
We seem to be in a lull in terms of news. Certainly we are drifting higher with the market which is good but I do not expect any thesis changing news or even stock moving news until earnings start popping up in a week or two. I would think that next week we start to […]
January 20th Biotech Update
So the page has turned from JPM and next is earnings and the usual rush of secondaries. Remember, however, that we had lot of secondaries to end the year, so perhaps the end of January will not be as flush with cash raising as in previous years. Earnings will likely be a little anti-climatic as […]
January 15th Biotech Update
So JPM is done and it was the least eventful one I can remember. I am still a little surprised that the sector has done this well. Usually post JPM we see a flood of secondaries and I suspect there will be an uptick in the next couple weeks. That being said we ended last […]
January 13th Biotech Update
So I think JPM is a complete failure in terms of news. It is obviously a dud in terms of M&A. I do not remember the last time we had a JPM with zero mergers. There have been some with minor deals but it has been awhile since there have not been any. This actually […]
